Green-energy stocks have been melting higher, and traders
apparently think that there's no going back for Trina Solar.
optionMONSTER cited big put selling in the Chinese company's June
4.50 contracts for $0.32. TSL has muscled higher since, and now the
trader is adjusting that position by repurchasing those puts for
$0.19. He or she also apparently closed another short-put position
in 10,990 June 4s for $0.09.
The investor replaced both bets with by selling about 22,000 of the
June 5 puts for $0.30 in a new opening trade. The net result is
that the trader collected about $0.16 of credit and is now on the
hook to buy stock for $5 rather than $4.50 and $4.
when they like a stock but don't want to spend a lot of capital to
get long. The strategy also programs a buy order at lower prices.
TSL is up 8.2 percent to $6.20 in afternoon trading and 69 percent
since the beginning of April. It's been squeezing higher along with
other solar companies following massive selloffs in 2011 and 2012.
is the strongest in the last month of more than 100 tracked by
Total option volume in TSL is 19 times greater than average so far
Our scanners have also detected bullish activity recently in
related names such as
GT Advanced Technologies
MEMC Electronic Materials
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